North launches three portfolios
North is set to launch three new equity-based portfolios over the coming weeks, as the firm's managed portfolio provider surpasses $5 billion in assets under management.
These include the Research Australian Equity Portfolio and the Research Australian Equity Income Portfolio managed by North’s research team, and the Elston Australian Large Companies Portfolio managed by Elston Asset Management.
The expansion of North’s managed portfolio range comes as research from Investment Trends shows that 53% of advisers in Australia were using managed portfolios with their clients. This was an increase from 44% in 2021 and 40% in 2020.
The research also shows that advisers who use managed portfolios were now utilising the solution for 60% of their clients, up from 44% in 2021 and 33% in 2019.
AMP director of platforms, Edwina Maloney, said: “The evidence is clear that managed portfolios are now the preferred way for most advisers to support the investment needs of their clients, and we expect this growth to continue.
“Our priority as a platform is to ensure North’s managed portfolio range provides expanding choice across investment styles and asset classes, and that we continue to partner with the industry’s leading investment managers.
“As we strengthen our managed portfolio offer we’ll also continue to build North’s wider investment choice, as evidenced by these further additions to the menu. In total, we’ve added more than 63 investments since the start of 2022.”
Recommended for you
Financial advice platform Otivo has made an experienced appointment from the US as its head of product strategy.
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
